Los Angeles (CA) Auto Loans

For a lot of car-shoppers, financing is the main obstacle to purchasing the car they desire. Unfortunately, lining up an auto loan can be a frustrating process, which could take days, even weeks. Instead of going from one finance company to the next, applying for a loan, you can submit just one application online. There are experts standing by, ready to help you finance the car you need with an economical rate of interest.

Auto Loan Rates in Los Angeles

Worried about the interest you’ll be asked to pay? Truth be told, your rate of interest differs hugely based on your credit, not to mention other things. The rates shown below are only for informational purposes. They’re not advertisements, and your precise rate will vary.

Used Car Loans in Los Angeles

Car manufacturers are in the business of selling brand new cars and trucks. However, used vehicles are cheaper in the end, and they depreciate less. Have a look at the table below.

Years Old

Price

Rate

Months

Payment

Interest

Total Cost

New

$22,600

6.00%

60

$436.92

$3,615

$26,215

1 Year

$18,080

7.50%

60

$362.29

$3,657

$21,737

2 Years

$15,368

7.50%

60

$307.94

$3,109

$18,477

3 Years

$13,063

7.50%

60

$261.75

$2,642

$15,705

Most cars a chunk of their value per year, so a new car you buy for $22,600 will be worth $18,080 after just one year of ownership. Below are the most popular limits on auto loans for used cars:

Car no older than 7-10 years.

Mileage no more than 100,000 miles.

Purchased via dealer, not private party.

Poor Credit Car Loans in Los Angeles

Generally speaking, offers like zero down are unfeasible if your credit score has seen better days. Generally, when you have less-than-perfect credit, an annual percentage rate of less than 10% is a pipe dream. Fortunately, the internet makes it a lot easier for the bad credit buyer.

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In Los Angeles, buy here pay here car dealerships wind up catering to people who have serious credit issues of one kind or another. While you should have no difficulty getting approved, you’ll pay a lot for the privilege.

It’s best to avoid these car lots when possible, and obtain a car loan via the web. The rates should be more affordable, the terms better, and you have the chance to improve your credit in the process.

Can a Car Loan Improve Your Credit?

If you care to increase your credit score, financing a car can help–so long as you pay the installments as arranged. It is important to bear in mind that this is a step by step process. It’s wise to enroll in automatic payments, just to ensure you won’t skip any installment payments.